Historic Restaurant
For Sale
$550,000
104 N Main Street, Washington, LA 70589
Commercial Sale, Washington, LA
Property Size3,882 SF
Lot Size0.28 Acres
Price / SF$141.68
Days on Market153
Property Features for 104 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Off Street, On Street
Security features
Security System
Exterior features
Door Sign
Lot features
Corner, Level
Directions
I-49 to Exit 25, LA 103, toward Washington; take left at stop sign on St. Landry Veterans Memorial Hwy; take left on Main St.; property on right at corner of Main St. and Moundville.
Subdivision
L2
Standard status
Active
APN
0500214500
Size
3,882 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
1 LOT N MOUNDVILLE S & W QUIRK E MAIN ST 11060207
Legal Description
1 LOT N MOUNDVILLE S & W QUIRK E MAIN ST 11060207
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Floors in Building
2
Flooring type
Wood
Roof type
Metal
Listing Agency:
RE/MAX Acadiana · RE/MAX International
(337) 984-8470
Listed By:
Merrie Chris Leger · License #27767
(337) 962-7653
Added: Apr 20
Changed: Sep 12
Last Checked: Sep 19 at 4:06AM
MLS# 2600003390
Copyright © 2026 Realtor Association of Acadiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This restaurant property at 104 N Main Street in Washington, Louisiana, offers 3882 square feet on a 0.28-acre site. The building is listed on the National Register of Historic Places and retains antique pier-and-beam construction dating to the early 1800s. A 2017 renovation added modern improvements while preserving historic character, including antique wavy-glass windows and wood flooring.
The property has central heating and cooling, ceiling fans, a metal roof, natural-gas service, and public water. Parking is available both on and off the street. An unfinished second floor provides additional space within the existing structure. Furniture, fixtures, and equipment are excluded from the sale but may be negotiated with an acceptable offer.
The property has central heating and cooling, ceiling fans, a metal roof, natural-gas service, and public water. Parking is available both on and off the street. An unfinished second floor provides additional space within the existing structure. Furniture, fixtures, and equipment are excluded from the sale but may be negotiated with an acceptable offer.
Key Highlights
- National Register of Historic Places designation
- 3882 square feet on 0.28 acres
- Historic pier‑and‑beam construction dating to the early 1800s
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,688
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$753,760
$753.8K
Cap Rate 7%
$538,400
$538.4K
Cap Rate 9%
$418,756
$418.8K
Market Conditions
NOI Build-Up for 3,882 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$53.6K $13.80/SF
− Vacancy
−$3.3K −$0.86/SF
EGI
$50.3K $12.94/SF
− OpEx
−$12.6K −$3.24/SF
NOI
$37.7K $9.71/SF
Area
St. Landry County, LA
Vacancy
6.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$753,760
Cap Rate 7%
$538,400
Cap Rate 9%
$418,756
Alternative Uses
Best Use
Specialty Retail
$538.4K
$471.1K – $628.1K
NOI $37,688 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$585.6K
$512.4K – $683.2K
NOI $40,994 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70589, LA
3,464
Population
1,522
Households
2.3
Avg Household Size
45
Median Age
13%
College-Educated
86%
High-School Grad
118.2 sq mi
ZIP Area
29
Density / Sq Mi
$44,063
Median Household Income
$31,838
Median Earnings
$653
Median Rent
$105,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Restaurant - Renovated in 2017 with wood flooring, central HVAC, and public water service.
Where is this restaurant located?
The property is located at 104 N Main Street Washington, LA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: National Register of Historic Places designation; 3882 square feet on 0.28 acres; Historic pier‑and‑beam construction dating to the early 1800s
